ECONOMY & NATION


Moneylife Digital Team 20 February 2014
Pushpam Appalanaidu, MD of QuestNet India was arrested at Chennai International Airport following a look out notice from the Andhra Pradesh CID. Appalanaidu, a Malaysian, faces 21 criminal cases of cheating for duping investors for Rs160 crore Immigration authorities at the Chennai...

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Konica Bhatt 20 February 2014
“It’s not as difficult as it looks. You should have the conviction as well as a lot of self-confidence to do business”, says Amrit Borkakoty of ‘Serenity: Blissful Living’, an interior styling boutique from Mumbai Amrit Borkakoty is the proud owner of 'Serenity: Blissful Living', a...

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Moneylife Digital Team 20 February 2014
After the purchase, promoter group holding in GlaxoSmithKline Pharmaceuticals will go up to 75% from the current 50.67% stake   The Indian government on Thursday cleared a foreign direct investment (FDI) proposal worth Rs6,400 crore of healthcare company GlaxoSmithKline to acquire...

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Moneylife Digital Team 20 February 2014
The Supreme Court said that appropriate government has the power to remit sentence but it has to follow the laid down procedure Stalling the Jayalalithaa government’s decision to free all the assassins of Rajiv Gandhi, the Supreme Court on Thursday restrained the Tamil Nadu government...

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Moneylife Digital Team 19 February 2014
Following the Supreme Court verdict, the Jayalalitha government decided to release all convicts in the Rajiv Gandhi assassination case, including Nalini, Perarivalan, Santhan, Murugan, Robert Pious, Jayakumar and Ravichandran The Tamil Nadu Government on Wednesday decided to release all...

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Moneylife Digital Team 19 February 2014
The HC also directed the counsel for Delhi government to seek instructions and file an affidavit indicating the actual position regarding the proposal of Kejriwal government The Delhi High Court on Wednesday directed the city government not to implement the 50% subsidy announced by it to...

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Hitisha Jain 19 February 2014
That is the advice of Shubhra Bharadwaj of Ferriswheel Entertainment, which has carved a niche for herself in a highly competitive event management industry In just five years after she started Ferriswheel, a Mumbai-based event management company, Shubhra Bharadwaj has managed several...

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Vishrut Patel 18 February 2014
The CLB directed Zenith Birla India to repay its fixed deposit holders with interest in eight weeks. Yash Birla Group’s financial transactions are also being probed by various investigative agencies The Company Law Board (CLB) has asked Zenith Birla (India) Ltd to pay the dues of 579...

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Moneylife Digital Team 18 February 2014
Significantly, there was no live telecast by Lok Sabha TV for 90 minutes during a clause by clause consideration of the bill before its passage The Lok Sabha on Tuesday passed the Telangana Bill that would divide Andhra Pradesh in two parts amid din and strong protests by members from...

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Moneylife Digital Team 18 February 2014
According to NPAsource.com, almost 11 banks out of 40 posted a 50% plus growth in their gross NPAs during the nine months that ended on 31 December 2013 Gross non-performing assets (NPAs) or bad loans of 40 listed banks increased 35.2% or by Rs63,386 crore to over Rs2.4 lakh crore during...

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Moneylife Digital Team 18 February 2014
Rejecting the Centre’s view, the apex court commuted the death sentence of three convicts – Santhan, Murugan and Perarivalan – to imprisonment for life, subject to remission by the government The Supreme Court on Tuesday commuted death sentence of three condemned prisoners in the Rajiv...

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Nidhi Bothra  and   Abhirup Ghosh 18 February 2014
RBI’s framework for revitalising distressed assets leaves everyone in stress. Banks, NBFCs, India Inc, CAs and advocates, no one is spared The slacking Indian economy is sitting with huge pile of bad loans (estimated to be about Rs2.9 lakh crore) in the Rs82 lakh crore banking system and...

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Powerful businessmen can use politicians to loot the banking system. No rules for them As we go to press, member of parliament and corporate czar, Vijay Mallya, is making news for having created an IPL (Indian Premier League) record by bidding Rs14 crore for cricketer Yuvraj Singh. The...

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As officials in Delhi sense that the Congress government will not return, they are taking bold potshots The Congress-led government spent almost the entire duration of Vinod Rai’s tenure as comptroller & auditor general (CAG) in a state of constant worry wondering what scam the CAG would...

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Moneylife Digital Team 17 February 2014
During the December quarter, Supreme Infrastructure posted 11% lower net profit due to higher costs even as its sales increased 10% Supreme Infrastructure India Ltd (Supreme Infrastructure), an engineering, procurement and construction (EPC) company, reported an 11% lower third quarter...

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Moneylife Digital Team 17 February 2014
Excise duty for small cars, scooters, motorcycles and commercial vehicles will come down to 8% from 12% while SUVs will attract excise duty of 24% as against 30% earlier Prices of automobiles, including cars, sports utility vehicles (SUVs) and two-wheelers, are set to come down with...

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Moneylife Digital Team 17 February 2014
The Indian government will need to continue to prune its spending in the next year as well to meet its budgeted fiscal deficit target. Therefore, the trend of forced fiscal austerity will likely continue next year, says Nomura in a research note The Indian government has managed to...

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Killing off some zombie banks would be good for a system where banks are hoarding capital rather than lending it, but there is little political or economic incentive to do so Pity the poor regulator, in this case a banking regulator. The European Union has just appointed Danièle Nouy as...

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Moneylife Digital Team 15 February 2014
The Delhi LG’s move keeps the option open for any political party or a combination of parties to try to form a government in future   Delhi's Lieutenant Governor Najeeb Jung is understood to have suggested imposition of President’s rule by keeping the legislature under suspended...

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Moneylife Digital Team 15 February 2014
Nokia said the recent developments in India about the Rs21,153 crore tax liability case is not expected to affect its $7.2 billion deal with Microsoft   Finnish Nokia said the recent developments in the Rs21,153-crore tax liability case in India is not expected to affect the timing or...

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